Read Why Business Continuity Ought To Be At The Front Of Your Board's Corporate Planning To Maximise Performance During This Global Recession.
Enlightened directors are increasingly realising the value of creating a business continuity management system as a way of improving their competitive advantage and reassuring shareholders of their ability to supply. With business interruptions routinely appearing in the news, isn't it high time that your business joined them?
Business Continuity has emerged in the past 6 years as an essential element of good management for public and commercial firms of all shapes and sizes.
Progressively we are seeing significant, established organizations go out of business because they have failed to foresee and plan for significant disruption and loss. So what can business owners and directors do to ensure their firm won't come undone in these testing market conditions?
Thankfully there are both business continuity systems and professionals available to help business executives defend their company from the broad range of hazards and threats they face; but where do you take the first step?
The first step is to decide as a board that business continuity is essential to your organization and then put some cash behind that decision.
With resources agreed, you should agree a timetable for improving your organization's resilience to interruptions and determine the scope of products and services that the business continuity programme will cover to help focus the team that you appoint to build your business continuity policies, strategies and plans.
If you haven't got business continuity expertise within your organization, you may wish to seek out suitable providers who've demonstrated competence in the design and delivery of business continuity management services for companies of your size.
With your team in place, you'll need to get started by determining your most vital products and services; the things that bring most of your revenue or have the largest impact if they are delivered or not). Most organizations find that around 20% of activities produce 80% of the benefits that accrue to the organization and those they serve so it's sensible to begin with these initially.
Once these most important products and services are documented the team needs to look at the people, equipment and processes that are needed to deliver them; including the supply of raw materials, utilities, staff, data and premises.
With the business processes mapped out for each important product or service, you should identify weaknesses within those processes and work out how they would affect the quality of supply if they cropped up.
Once you know for sure where your business is vulnerable you can design appropriate strategies and plans to reduce the probability of those disruptions arising or their impact: for example if a process depends on availability of electrical power, you might install back up supplies from another switchboard or emergency generators.
The nature and range of the strategies and plans you make will be determined by the importance of the product or service and your potential losses you might choose to create crisis response plans first to militate the disruption whilst you work on establishing the degree of resilience needed to forestall disruptions.
Sometimes you can significantly minimise the potential disruption to your organization's outputs by examining the "what-ifs" so it makes abundant sense to do so; whether you are driven by legislation, commercial forces or simple common-sense.
Take action today, before circumstances make you wish you had not sat on the fence about putting a suitable business continuity management system in place.
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